Russian Economy Stabilized, Capital Outflow Decreased by 5 Times - Putin

Russia estimates its efforts on economy recovery as modest, however, the situation has stabilized, the reserves have maintained, the capital outflow decreased by 5 times in comparison to the last year, Russian President Vladimir Putin said at the first session of the G20 summit.

HANGZHOU (Sputnik) — He noted that Russia sees insignificant, however, growth in industrial production and other indicators.

"Regarding our country, Russia, we estimate our efforts as insufficient, modest. But our economy has nevertheless stabilized. We have kept the reserves, significantly reduced the outflow of capital. Compared to last year the capital outflow had reduced five times. Inflation has reduced two times. The budget deficit stands at 2.6 percent. Unemployment is kept at a low level — 5.7 percent. External debt is maintained at a low level — only 12 percent a year," Putin said.